A proposed senior housing development could be heading to a neighborhood near Highland Park.
Dallas-based Harbert South Bay Partners, a Harbert Management Corporation (HMC) affiliated senior housing development firm, revealed plans to build a new senior living community on the 3700 block of Inwood Road near Lemmon Avenue west of Highland Park.
The more than 290,000-square-foot senior living complex would reportedly replace the site’s existing structure, the 52-unit Fairwood Apartment complex built all the way back in the 1940s.
The proposed senior living community is expected to feature three acres of independent and assisted-living units, a parking garage, and a large internal courtyard, according to site plans presented by global design and engineering firm Arcadis and Harbert South Bay Partners to the Oak Lawn Committee on June 6.
As part of the proposed development, Harbert South Bay Partners would build separate wings for independent living as well as assisted living and memory care.
While no official decision has been made by the committee on what to do with the 3-acre property, commercial property firm Institutional Property Advisors is currently marketing the site as an “irreplaceable redevelopment opportunity located in a core Dallas location” and “surrounded by high-value homes and exceptional demographics.”
Besides the 3.14 acres of prime real estate, one of the property’s main selling points is its convenient location between Dallas Love Field Airport and UT Southwestern Medical Center.
The Dallas Express reached out to Drew Kile, an executive managing director at Institutional Property Advisors, for more details about the proposed senior living community but had not heard back at the time of publication.
HMC has approximately $8 billion in assets under management across multiple asset classes, including European and U.S. real estate, senior housing communities, growth capital, credit solutions, infrastructure, and absolute return funds.
Harbert South Bay Partners was acquired by Birmingham, Alabama-based HMC in 2021 in a “strategic transaction” to become the majority owner and manager of the firm.
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